(2) Operating earnings excludes from net income: net realized capital losses of $482 million ($656 million pretax) in 2008 and $48 million ($74 million pretax) in 2007; a reduction of the reserve for anticipated future losses on discontinued products of $29 million ($44 million pretax) in 2008 and $42 million ($64 million pretax) in 2007; a severance and facilities charge of $36 million ($55 million pretax) in 2008; a contribution for the establishment of an out-of-network pricing database of $20 million ($20 million pretax) in 2008; and an allowance on a reinsurance recoverable of $27 million ($42 million pretax) in 2008.

(3) The operating expense ratio (GAAP basis) was 18.6% in 2008 and 18.3% in 2007. The operating expense ratio excludes net realized capital losses from total revenue in both years as discussed in (2) above and also excludes the severance and facilities charge, contribution for the establishment of an out-of-network pricing database and an allowance on a reinsurance recoverable in 2008 as discussed in (2) above.

The foregoing financial information should be read in conjunction with the financial statement and related notes as presented in Aetna Inc.’s 2008 Annual Report, Financial Report to Shareholders.